HBR Interview

Downturns happen in every business, and the way executives respond often provides the truest test of their leadership. In four short years, Eric Schmidt has brought Novell back from the brink of extinction only to see it falter once again. Here’s what he’s learned about facing adversity.

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In the 1990s, conventional wisdom held that corporate leaders should leave divisions alone, so long as they hit their numbers. That’s changing. In uncertain markets, CEOs need to provide strategic guidance more quickly and more often than they used to.

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Companies spend a lot of time and money fine-tuning their relationships with customers. But those relationships don’t exist in a vacuum. By defining the broader “customer scenarios”—and then managing them meticulously—companies can deliver much more value to buyers and reap much greater loyalty in return.

Best Practice

Sending no signals—or worse, mixed ones—to financial analysts compromises a company’s access to capital and can even trigger a stock price plunge. Here’s how AOL sets the standard for clear and consistent investor communications.

HBR Case Study

Salaries at fashion retailer RightNow! were all over the map—and that was okay when they were private. But now, thanks to a former employee’s parting shot, they’re public—and everyone’s abuzz about who’s worth what. Is that such a bad thing?

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Itâ€™s a challenge that confronts every company, large and small: how do you give employees clear strategic direction but also inspire flexibility and risk taking? One answer is to create and broadcast a â€œstrategic principleâ€â€”a pithy, memorable distillation of strategy that guides employees as it empowers them.

First Person

The Harlem Globetrotters have thrilled audiences for 75 years with their athleticism and showmanship. But in 1992, they were nearly extinct—until a Honeywell executive who had played for the team in the 1960s had a vision that would keep the magic, and the brand, alive.

Different Voice

Who has time for literature anymore? You probably don’t—but you should, says one of America’s most influential scholars. Start with Shakespeare and end with Freud, and watch how your view of life and work changes.

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For years, scientists have been studying ants, bees, and wasps because of the amazing efficiency of social insects. Now companies like Southwest Airlines and Unilever are actually putting that research to work, with impressive paybacks.